Celsius Resources (ASX:CLA) receives “outstanding” results from MCB – The Market Herald

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  • Celsius Resources (CLA) receives “exceptional” high-grade assay results from its ongoing drilling program at its flagship MCB copper-gold project in the Philippines
  • The new results are consistent with previous results, with the remarkable hole MCB-038 continuing to confirm and extend two other higher grade zones.
  • Celsius says the drill hole confirmed there are a number of higher grade positions as expected and improved its level of confidence of the existing mineral resource
  • Results from hole MCB-038 returned 611.4 meters grading 1.39% copper and 0.75 grams per tonne gold (g/t) from 32.5 meters.
  • CLA shares are up 42.9% to trade at two cents at 10:50 a.m. AEST

Celsius Resources (CLA) has received “exceptional” high-grade assay results from its ongoing drilling program at its flagship MCB copper-gold project in the Philippines.

The new results are consistent with previous results, with the remarkable hole MCB-038 continuing to confirm and extend two other higher grade zones.

Results from hole MCB-038 returned 611.4 meters grading 1.39% copper and 0.75 grams per tonne gold (g/t) from 32.5 meters.

Celsius said the drill hole confirmed that there are a number of higher grade positions as expected and improved its level of confidence in the existing mineral resources.

Latest assay results include 150.85 meters at 1.90% copper and 1.57 g/t gold at 207.15 meters and 234.45 meters at 1.90% copper and 0.87 g/t t of gold at 391.55 meters.

“The results from MCB-038 are exceptional and we believe reflect the quality of the MCB deposit,” said Executive Chairman Martin Buckingham.

“We still have a few diamond drill holes to come which are planned to better define the shallow and easily accessible high grade copper at MCB.

“Drilling results over the past six months have identified significant additions to copper mineralization and we look forward to understanding the impact of these results as we enter our resource estimate update and JORC ​​feasibility studies in the second half of this year.”

CLA shares rose 42.9% to trade at two cents at 10:50 a.m. AEST.

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